Blockchain increases transparency and accountability which truly benefits the end user: Kumar Gaurav, Cashaa

What is Blockchain

I reached out to Janina Lowisz, CMO of Cashaa who co-ordinated to feature Kumar Gaurav, Founder and CEO of Cashaa.

Tell us about yourself and how did you take interest in digital currencies?

I am a serial entrepreneur and have been in the blockchain space for the past few years. I founded Cashaa and Auxesis Group, two of the Top 100 Most Influential Blockchain Companies in the world: Auxesis Group is India’s first enterprise blockchain innovation company while Cashaa is a blockchain based money transfer platform based in Level39, and enables users to send money without any fee and with the best FX rate.

I am also Vice President for Responsible Gold, a frequent speaker on blockchain & Bitcoin, and in the editorial group of CoinTelegraph and CoinIdol. I recently joined as advisor at Satoshi Studios, an incubator for blockchain startups of Southeast Asia.

Before I got interested in the digital currency sphere, I worked for BMW and Ferrari. There, I got involved in the startup scene and did some travelling, and so met interesting people from whom I learned about Bitcoin.  Then, while travelling, I had to use Western Union and pay high fees, and thought about how to combine the two and bring the advantages of Bitcoin to the huge part of the world’s population who are not familiar with it and are still dependent on existing providers like Western Union, which charge them 10-15%.

Tell us about Cashaa founding team and how it works?

Cashaa consists of a leadership team of 5 people, and our technology team consists of experts from Auxesis Group. Auxesis has a deep understanding of the industry and its regulations, due to over 2 years of experience of blockchain and cryptocurrency research for enterprises and finding new use cases for different industries.

We are also partnered with Top Law firms in Europe who are working with us, to keep our compliance services & KYC upto date.

How Blockchain Technology is powering Cashaa
How Blockchain Technology is powering Cashaa

Cashaa stands out!

How Cashaa Ranks?
How Cashaa Ranks?

Cashaa is driving down the costs of international money transfer as we are a p2p marketplace matching Bitcoin traders with money senders and receivers, of whom we only charge the Bitcoin traders a percentage of their profit.The sender gives money on one side, and on the other side receives the same amount in local currency. In this way, for the international transfer, Bitcoin is used, without the sender or receiver having to know anything about it.

How should one work on marketing and sales activity in a company like Cashaa where emerging tech is being relied on?

For our system, we need to rely on a lot of people, so Cashaa is all dependent on networking to find traders, local agents and other partners. We could use our existing network which during our involvement in the industry we have built for more than 2 years before we started Cashaa in June 2016.

Then we built the traders network for over half a year before launching Cashaa. We also with with local entrepreneurs and Bitcoin evangelists who already wanted to build such a service for their country themselves or who are well-connected locally, but who only found a suitable opportunity including an existing team and existing product now in us. However, whereas it is comparably easy to find what you need in the blockchain and cryptocurrency sphere, the money senders are a completely different group. To reach them, we are talking to community leaders and local shops who are so far offering Western Union and related services and who can now offer our service for customers sending money to Nigeria and India.

What is Blockchain and how is it going to change the way we do business?

A blockchain is a distributed database serving as immutable record of information, comparable to a Google document without Google. Blockchain technology can become the core technology for all governance, banking and any business services where trust is now centralised, and can decentralise that trust. Other than making processes more efficient, blockchain technology increases transparency and accountability and so institutions will operate in a way that truly benefits the end user.

Your future plans

We have just now enabled bank to bank payments and other means of payment to bring the advantages of blockchain technology to both the banked and unbanked masses, and have enabled b2b payments. Next, we are going to expand in UAE & China in the coming months.

-Venkat

Write to us to get featured

venkatramanc16@gmail.com

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